New London Market Renewable Energy product
It’s never been more important for businesses to step up and start making real change. As part of our commitment to help tackle climate change, we’ve launched a new London Market Renewable Energy product.
This is an integrated package of insurance designed specifically to support large companies with a global remit in the complex market of renewable energy, including onshore windfarms, solar power and battery storage.
Aviva Renewable Energy has been developed in recognition of the specific needs of this growing market, covering all the insurance needs of renewable energy companies globally which have operations in their home and overseas markets. It gives your commercial clients a single package of insurance available through one underwriting team.
It will cover the whole lifecycle in the following areas:
- Marine project cargo
- Third party liability
- Terrorism cover.
We already work with several clients in the renewable energy market from small, national providers to those with large, international portfolios, and have now established a specialist underwriting team. This includes Deputy Chief Underwriting Officer & Head of Speciality, Matthew Gordon, Head of Renewable Energy & Engineering, Victoria Kent; and Renewable Energy Underwriting Manager, Nick Evans.
A word from Patrick
This launch is about us recognising the important role renewable energy plays in climate change. Patrick Tiernan, Managing Director of UK Commercial Lines said: “At the start of 2019, Aviva UK exited the standalone operational fossil fuel power market as part of its commitment to help tackle climate change. We are now taking another important step in our commitment by launching a specialist renewable energy proposition that provides insurance solutions for the full lifecycle of renewable energy risks worldwide. This is an exciting time for Aviva as we look to support the critical growth ambitions necessary in the renewable energy sector to reduce our reliance on fossil fuels. This is a small step in our sustainability journey as a commercial insurer. We're already working with our largest brokers and clients to ensure we can be their partner of choice as the UK economy prepares for carbon neutrality in 2050.”
We'll continue to provide First Party Covers for UK Renewables through our Engineering underwriters in our Birmingham, Manchester, Leeds & Glasgow offices. But via our London Market Team we'll be able to provide full lifecycle and packaged products to holistically meet international clients’ requirements.
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